Editor's PiCK
Chinese Mobile App Developer 'Meitu' Sells All Bitcoin Holdings
Doohyun Hwang
Summary
- Chinese mobile app developer Meitu announced that it has sold all of its Bitcoin holdings.
- Meitu reported that it secured approximately $79.63 million in realized profit from the sale of virtual assets.
- 80% of the profit will be distributed as a special dividend, and the remainder will be used as operating funds.
Chinese mobile application developer 'Meitu' has announced that it has sold all of its Bitcoin (BTC) holdings. Meitu had been known as the Chinese version of MicroStrategy due to its aggressive Bitcoin purchases.
On the 4th (local time), Meitu stated, "We have been selling our virtual assets since November. On the 4th, we sold all our virtual assets (approximately 31,000 Ethereum and 940 Bitcoin) for a total of $180 million. The realized profit is about $79.63 million."
They added, "We plan to distribute 80% of the profit as a special dividend and use the remainder as operating funds."
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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